KBW Initiates Coverage of Bullish with $55 Price Target as U.S. Expansion Drives Growth
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KBW Initiates Coverage of Bullish with $55 Price Target as U.S. Expansion Drives Growth

KBW has begun coverage of the crypto exchange Bullish, setting a $55 price target while highlighting U.S. expansion as a key growth catalyst.

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Overview

KBW has launched its coverage of Bullish (BLSH) with a market perform rating and established a price target of $55, emphasizing both strong regulatory support and immediate U.S. expansion as crucial factors for growth.

Key Details

  • KBW’s report indicates that the exchange is well-positioned due to favorable regulatory compliance and its innovative technology, allowing it to attract institutional traders.
  • The firm expects that data, index, and liquidity services will constitute over 40% of revenues by FY2027, diminishing dependency on transaction volumes.
  • With competitive fees and a robust liquidity framework, Bullish is poised to gain a significant share among institutional clients, particularly as it awaits the approval of a BitLicense in New York.

Market Performance

Initially, Bullish shares were stable at around $51.81 at the time of the announcement.

Further Reading: Wall Street Sees U.S. Entry as Catalyst for Bullish’s Next Leg Up

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